Regulatory Alerts2011-07-01
Operating Guidelines for Finance Leasing Institutions
The Bank of Sierra Leone has issued operating guidelines establishing licensing criteria, financial obligations, and governance standards for finance leasing institutions. The regulations mandate a minimum paid-up capital of two billion Leones, require detailed business plans and risk management frameworks, and enforce prudential limits on single-person exposure, total liabilities, and asset provisioning. Licensed entities must maintain fit-and-proper directors, submit quarterly and annual financial reports, display their licenses and interest rates, and restrict operations to approved finance leasing activities.
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